DAFT REPORTS RENT RISE IN WEXFORD AND ACROSS THE COUNTRY
Rent prices across Ireland have jumped by over 10 percent in the last 12 months.
According to the latest report from daft.ie, rents rose in every county – except for Donegal – while all city centres experienced increases.
In Wexford town the average advertised rent is now 610 euro per month a rise of over four per cent in the past year but still twenty two per cent below their peak in 2007.
It shows there are 40 percent fewer properties available to rent than this time last year causing difficulties for students going to college.
Economist with Trinity College Ronan Lyons, who compiled the DAFT rental report says it boils down to basic supply and demand.
“What we’re seeing in the rental market at the moment is another strong increase in rents in Dublin – and basically a strong increase as it spread to the rest of the country” he said.
“So if we look at the year to mid-2014, rents nationally rose by an average of just over 10 percent”.
“In some sense the Dublin-rest-of-the-country divide is still there; but you can see now that every single market in the country – with the sole exception of Donegal – has rising rents at the moment” he added.